Protection for Kazakhstan’s investments to Kyrgyzstan

Kyrgyzstan’s Acting PM Omurbek Babanov promised Kazakhstan’s businessmen to protect their investments to Kyrgyzstan, Tengrinews.kz reports. Babanov promised protection when speaking at the Kyrgyz-Kazakh investments forum in Bishkek. “In the mid-term Kyrgyzstan plans to implement 40 national projects. I am sure Kazakhstan’s enterprises will be participating in them. Besides”, he said. According to Samruk Kazyna Sovereign Wealth Fund Vice Chairman Aidan Karibzhanov, as of the end of last year Kyrgyzstan was not among the top 20 trade partners of Kazakhstan. “The actual level of cooperation does not reflect the whole potential. One of the reasons is the tragic April’s events in Kyrgyzstan. However, despite the negative investments indicators, Kazakhstan’s businessmen are aredy to invest to Kyrgyzstan. We have some concerns with regards to protection of Kyrgyzstan-based assets, but the progress is obvious in this realm as well. The investment climate has been changing for the better from day to day”, Karibzhanov said. For the first 8 months of 2011 the trade turnover between the two nations is estimated at $438 million, 34% up against the same period of 2010. Kazakhstan’s direct investments to Kyrgyzstan from 2005 have made up over $1 billion. About 290 Kazakhstan’s enterprises аre operating in Kyrgyzstan alongside 100 enterprises with Kazakhstan’s capital involved.